FS Credit Opportunities (NYSE:FSCO) Trading Up 0.9% – Still a Buy?

FS Credit Opportunities Corp. (NYSE:FSCO)’s share price shot up 0.9% during trading on Wednesday . The company traded as high as $5.25 and last traded at $5.2350. 862,497 shares changed hands during trading, a decline of 38% from the average daily volume of 1,397,089 shares. The stock had previously closed at $5.19.

FS Credit Opportunities Price Performance

The firm has a 50 day simple moving average of $5.00 and a 200-day simple moving average of $5.04.

FS Credit Opportunities Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were issued a dividend of $0.0594 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date of this dividend was Monday, August 24th. This is a boost from FS Credit Opportunities’s previous monthly dividend of $0.06.

Hedge Funds Weigh In On FS Credit Opportunities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC bought a new position in shares of FS Credit Opportunities in the first quarter valued at about $28,000. GHP Investment Advisors Inc. bought a new stake in shares of FS Credit Opportunities during the 1st quarter worth about $29,000. Continuum Advisory LLC bought a new stake in shares of FS Credit Opportunities during the 2nd quarter worth about $33,000. Advocate Investing Services LLC acquired a new position in FS Credit Opportunities in the 4th quarter valued at about $43,000. Finally, Jessup Wealth Management Inc acquired a new position in FS Credit Opportunities in the 4th quarter valued at about $50,000. 36.37% of the stock is owned by institutional investors.

FS Credit Opportunities Company Profile

FS Credit Opportunities Fund Inc (NYSE: FSCO) is a diversified closed-end management investment company that seeks to provide shareholders with a high level of current income and capital appreciation. The fund pursues its objectives by investing primarily in corporate credit instruments, including high-yield bonds, leveraged loans and other credit-related securities. FSCO’s flexible mandate allows it to allocate across the credit spectrum, rotating among sectors, maturities and structures in response to changing market conditions.

Under normal market environments, the fund typically invests at least 80% of its total assets in non-investment grade corporate debt securities, with the remainder allocated to investment-grade obligations, cash and cash equivalents.